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54 Cumberland Street, Brooklyn

Albert Dweck Refinances $3.1M Multifamily Property In Brooklyn With Brad Domenico @progress.capital
FINANCEDMultiFamily

Albert Dweck Refinances $3.1M Multifamily Property In Brooklyn With Brad Domenico @progress.capital

54 Cumberland Street, Brooklyn

$3,100,000

$521/SF

Building Size

5,940 SF

Asset Type

MultiFamily

Closing

Feb 21, 2019

AI

The multifamily property located at 54 Cumberland St in Brooklyn was recently refinanced for a loan amount of $3,100,000. The transaction took place on February 22, 2019, with the landlord, Albert Dweck, representing Duke Properties. Jay Shah from Metropolitan Bank provided the loan for the refinancing. The deal was facilitated by Brad Domenico from Progress Capital.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,100,000
  • Address: 54 Cumberland St, Brooklyn

Albert Dweck, the landlord and representative of Duke Properties, successfully secured the loan through Jay Shah at Metropolitan Bank for the refinancing of the multifamily property. Brad Domenico, a broker from Progress Capital, assisted in facilitating the deal.

Players

Brad Domenico

Cushman & Wakefield

Broker

$3.7B

vol

135 deals

Broker

Albert Dweck

Duke Properties

Landlord

$21.9M

vol

9 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93